Current Assets: $277,614.13
Curent Liquid Assets: $154,395.28
Current Debts: -$16,975.43
Net Worth: $260,638.70
I did all that I could do to try and increase my net worth even more than July, but the markets conspired against me. Normally this wouldn't be a problem because it means that there's more buying opportunities present but I wasn't able to capitalize on the down month other than some very small purchases. August's increase came in at $4,697.59 and was good for a 1.84% increase from July's tally. I can now mark off my goal of a $100k increase in my net worth for the year as my total increase in 2013 is up to $104,686.52. I had revised my goal higher at the half way point of the year to reach $286,000 for my net worth by the end of 2013 so I'm still short of that goal for now and will have to average over $6,300 in monthly increases to hit that mark. My budget will be completely changing now that the house purchase has been completed so I went with a bit more conservative of a revised goal. In last month's update I asked whether I should include our house in our net worth figures and I've decided to do just that but will also keep track of my liquid net worth as well.
My after-tax savings rate for August ended up at 86.60% which is just amazing. Most of that is due to the income being so high and even better to get it back on track after July dipped down below 80%. I'm now averaging 82.70% through the August which is phenomenal. This is currently ahead of my 80%+ savings rate goal. This is only savings from my net income that actually hits my checking account. However, I do have another 8% after tax being withheld to purchase shares through the employee stock purchase plan provided by my employer. I'm expecting a dip in my savings rate for the rest of this year due to the added expenses for the house so the 80%+ level might be in jeopardy. Even if it dips down to the 70% range I'll still be doing just fine as that's well above what most Americans are saving.
My non-retirement accounts net worth could cover 8.64 years of expenses based on my spending from August. This added 0.15 years, or 1.80 months, that I could afford to live without any income sources. This number will take a hit when all of the house and furniture expenses are accounted for. We'll have to see when they all start rolling in, but I know the first mortgage payment won't be due until November. I'll be glad when all of the expenses are in so I can start taking steps toward getting rid of the furniture related debt and then focus on doing what I do best by saving a large amount of my income and investing it into dividend growth companies.
How was your August? Did you do better or worse than you expected this month?